How to buy property in Spain in 2026: costs and steps

Buying property in Spain in 2026 takes place in eight steps: setting the budget, choosing a location, obtaining an NIE number, opening a bank account, reservation, legal verification, the preliminary contract (Contrato de Arras) and the notarial deed. You need to add extra costs to the price, usually around 10–15% of the property value. The whole process takes from a few weeks to about 2–3 months.

The procedure differs from the one you know from home: Spanish taxes, the NIE number, notary costs, a check on the property's legal status and the choice of location all come into play. Below we describe each stage and the costs worth knowing before you buy.

Why buy property in Spain?

Spain remains one of the most popular property-buying destinations in Europe — both for investors and for people planning to relocate or buy a holiday apartment. The main reasons:

more than 300 sunny days a year,
well-developed infrastructure and a high quality of life,
good air connections with the rest of Europe,
a stable property market and investment security,
short-term rental potential and growing demand in popular regions,
more attractive prices than in many Western European countries.

Increasing interest is being shown in: Costa Blanca, Costa del Sol, Alicante, Marbella, Malaga, Torrevieja, Orihuela Costa and Estepona.

Buyers treat property as a capital investment, a financial safeguard, an alternative to deposits, a way of diversifying their assets, or a place to live for part of the year.

Can a foreigner buy property in Spain?

Yes. Foreign nationals can buy property in Spain without obstacles. Residency or registration is not required, and the buyer can be either a private individual or a company.

Foreign clients most often buy:

seaside apartments and holiday properties,
townhouses,
premium villas,
investment properties and apartments for rental.

The purchase can also be carried out remotely, without a permanent stay in Spain. It is possible to sign a power of attorney, process documents remotely, view the property through video presentations and receive legal support at a distance — a solution particularly popular with foreign investors.

The key is proper preparation of the process and working with an experienced estate agency and law firm.

What does buying property in Spain look like, step by step?

1. Setting the budget and purpose of the purchase

To start, you need to set a budget, preferred location, type of property and the purpose of the purchase. Helpful questions:

Is the property meant to be an investment or to be rented out?
Are you looking for a holiday home, or planning to move permanently?
How important is the distance from the airport?
Do you want a new-build?

Include the additional costs at this stage already — in Spain they usually amount to around 10–15% of the property value.

2. Choosing a location

The location determines the potential for capital growth, rental opportunities, running costs and quality of life.

Costa Blanca — a region popular with international clients: better prices, extensive infrastructure, wide beaches, good conditions for seasonal rental.
Costa del Sol — a more premium, investment-oriented destination: luxury developments, high potential for capital growth, an international character and strong interest from premium clients.
Alicante and Malaga — for people planning more frequent stays or a move: international airports, well-developed transport links, year-round living, access to medical services and international schools.

3. Obtaining an NIE number

The NIE number (Número de Identidad de Extranjero) is mandatory. Without it you cannot buy property, sign the notarial deed, open a bank account or settle taxes.

The NIE can be obtained in Spain, at a Spanish consulate in your home country, or through a representative. The procedure usually takes from a few days to a few weeks.

4. Opening a bank account in Spain

A Spanish account makes it easier to handle payments, utility bills, taxes, mortgage instalments and community fees. The bank may require a passport, an NIE number, proof of income and tax documents.

5. Reserving the property

Once you have chosen a property, you sign a reservation agreement and pay a deposit — most often between €3,000 and €10,000 or a set percentage of the property value. From that moment the property is taken off the market.

6. Legal verification of the property

This is one of the most important stages, especially on the resale market. The lawyer checks:

the land registry and debts,
building permits and the legality of the property,
compliance of the documentation,
taxes and fees.

A good law firm helps you avoid legal problems, hidden debts, illegal extensions and rental restrictions.

7. Signing the preliminary contract (Contrato de Arras)

The buyer signs a private contract and usually pays around 10% of the property value. The contract sets out the price, the completion date, the terms of purchase and the responsibilities of the parties.

8. Completing the purchase at the notary

On the day the deed is signed, the remainder of the price is paid, the keys are handed over and ownership is transferred. The property is then entered in the property register.

How much does it cost to buy property in Spain in 2026?

Besides the price you must allow for taxes and fees, usually around 10–15% of the property value in total.

Cost	Primary market	Resale market
Purchase tax	VAT (IVA): 10%	ITP: usually from 6% to 10%, depending on the region
Stamp duty on legal documents (AJD)	around 1–1.5%	—
Notary and registration costs	around 1–2%	around 1–2%
Lawyer's fee	around 1%	around 1%

Mortgage costs

When buying with a mortgage you need to add the property valuation, bank fees and insurance. Banks in Spain often finance non-residents for up to 60–70% of the property value.

How long does it take to buy a property in Spain?

The whole process takes from a few weeks to about 2–3 months. The time depends mainly on:

financing and the banking process,
completeness of the documents,
obtaining an NIE number.

A cash purchase is usually quicker.

Is it worth buying an investment property in Spain?

In many regions the market still has strong growth potential. Investors most often choose apartments close to the beach, new developments, premium properties and apartments for holiday rental.

Investment appeal is driven by a growing number of tourists, limited supply in top locations, infrastructure development and stable foreign demand.

Short-term rental can offer attractive returns, especially in Marbella, Malaga, Alicante, Benidorm, Torrevieja and Estepona. However, the rules on tourist lets differ from region to region.

Examples of new-build properties from our listings

Aguilas — beachfront apartment: from 68.04 m², 3 rooms, 2 bathrooms, sea view, first line of the coast, from 341000 € (price excluding VAT).
Alhama de Murcia — apartment with a garden: from 88.39 m², 3 rooms, 2 bathrooms, by the golf courses, from 218900 € (price excluding VAT).
Alhama de Murcia — house with a swimming pool: from 110 m², 3 rooms, 2 bathrooms, private pool, garden, from 293900 € (price excluding VAT).
Torrevieja — apartment 200 metres from the beach: from 134.66 m², 3 rooms, 3 bathrooms, close to the sea, from 345000 € (price excluding VAT).

What should you watch out for when buying, and how do you choose an agency?

The most common buyer mistakes:

buying without legal analysis,
overlooking additional costs,
choosing a location at random,
no analysis of rental potential,
buying on impulse,
working with an unvetted intermediary.

Before deciding, also check the community fees, local rental restrictions, the development plan, noise levels and seasonality, and access to services and the airport.

A good agency should provide comprehensive service, legal support, after-sales help, knowledge of the local market, transparent costs and access to proven developments. It is worth choosing companies that specialise in serving foreign clients.

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Frequently asked questions

What is an NIE number?

It is a foreigner's identification number, required when buying property and for most formalities in Spain. It can be obtained in Spain, at a Spanish consulate in your home country, or through a representative.

Is buying property in Spain safe?

Yes, provided there is thorough legal verification and you work with experienced specialists. The lawyer checks, among other things, the land registry, debts and building permits.

How much is the deposit when reserving a property?

Most often between €3,000 and €10,000 or a set percentage of the property value. For a preliminary contract (Contrato de Arras), around 10% of the value is usually paid.

What mortgage can a non-resident get in Spain?

Banks in Spain often finance non-residents for up to 60–70% of the property value. You need to add valuation costs, bank fees and insurance.

Can you earn income from renting out property in Spain?

Yes. In many regions short-term rental generates attractive income, although the rules on tourist lets differ from region to region.

Aria Spain, a licensed agency (RAICV no. 4123) with an office in the province of Alicante, sells new-build properties on the Costa Blanca, Costa Calida and Costa del Sol with no commission for the buyer and guides you in English through the NIE, bank account, mortgage, notary and handover. Book a free consultation.